First, the rise and expansion of Guangzhou Pharmaceutical Group. Guangzhou Pharmaceutical Group was established not very early, but only in 2002. At that time, the construction and construction of houses were mainly carried out in Guangdong Province. At that time, the real estate industry developed very well, and many real estate industries had high sales and developed rapidly. GPHL has also caught up with the spring breeze of real estate development. In 20 10, the sales of GPHL has reached 4 billion, and GPHL has become a famous real estate company in Guangdong and one of the top 100 real estate enterprises in China. After that, GPHL began to expand rapidly. Out of Guangdong, out of the Pearl River Delta, and even into Beijing and Shanghai, it also expanded overseas markets. It can be said that its expansion makes GPHL more beautiful.
Second, private lending and capital chain break. However, in the process of this expansion, capital is very needed. In addition to lending to banks, GPHL also participated in some private lending. Moreover, the total debt of GPHL when it went bankrupt has reached 654.38+06.986 billion yuan. At the same time, statistics show that private lending during the expansion period of GPHL accounts for 654.38+0/3 of the total financing amount, and the interest is as high as one billion yuan.
Third, after struggling for four years, I can only go bankrupt. The capital chain of GPHL has gradually become problematic, and many uncompleted residential flats cannot be delivered. At that time, GPHL applied for asset restructuring on 20 17, trying to get out of trouble. However, due to the tightening of real estate policy and the decline of market situation, even GPHL and its chairman have no way to change their own enterprises and continue to operate. Under such circumstances, GPHL can only declare bankruptcy.